An order will have payment terms, which is the allowable time between the raising of the invoice and payment being received. Search for the order that you are interested in, and you will see a number of tabs, the third of which is 'payment terms'
The Payment Terms page contains two tabs for entering information related to payment schedule and terms of the contract.
Enter or Search for the method of payment the customer will be paying by. If the method you require is not listed, see Payment Methods.
This is where you enter the card number used for the payment. The system will automatically check to make sure the number entered is a valid number sequence to the payment card indicated. However, this isNOTa check on the validity of the card’s account.
This is where you enter the expiry date of the card.
This is where you enter the issue number if applicable of the payment card.
This is where you enter the name of the payment card. This name should be entered as it appears on the card.
Enter the card holder's address. This should be the address the card is registered to.
The next group of fields deals with payment terms, and has the following fields:
The default standard payment schedule as defined in the Event set up will be entered here. To reveal the payment schedule click on the Calculate button and the dates and percentages will be displayed in the grid.
An example of a payment schedule might be 30% of the stand price invoiced on booking, then another 40% to be invoiced six months before the event, and the final 30% to be invoiced three months before the event. The payment schedule has no bearing on the payment terms, which might remain at 30 days for each of the three invoices raised. The payment schedule is about when the invoices are actually raised.
You can use another payment schedule that has been set up, for example for another company by searching in the payment schedule field. A search window will open with the payment schedule codes, which are automatically created when a new payment schedule is set up, and either the name of the company which has that payment schedule or the name given to that payment schedule. Click on the one required and hit the green tick button. The code of that payment schedule will then be entered in the Payment Schedule field. To display the schedule click on the Calculate button.
If a new payment schedule is required for this contract, one can be added here.
Adding a New Payment Schedule to a Contract
This is where you enter the number of days the payment must be made within. The default number will be automatically entered here as determined by the number entered in the Payment Schedule section of the Setting up a New Event window, this can be changed if necessary for individual contracts.
Enter or Search for the cancellation schedule you wish to use for the contract. You can use another cancellation schedule that has been set up, for example for another company by searching in the cancellation schedule field. A search window will open with the cancellation schedule codes, which are automatically created when a new cancellation schedule is set up, and either the name of the company which has that cancellation schedule or the name given to that cancellation schedule. Click on the one required and hit the green tick button. The code of that cancellation schedule will then be entered in the Cancellation Schedule field.
If a new cancellation schedule is required for this contract, one can be added here.
Adding a New Cancellation Schedule to a Contract
The second tab hold details on currency and exchange rates. If these fields are applicable to your client, enter the following information:
Check this box if you wish to enable Invoice Suppression i.e. stop any invoices being produced for this contract.
Invoice De-Suppression Date
This is where you enter the date you wish the invoice suppression to cease.
This is where you Enter or Search for the secondary currency code you wish to use in the payment terms.
This is where you enter the exchange rate between your home and secondary currency.
Base Currency Priority
Check this box if the home currency takes priority when payment terms and cancellations are calculated.
Secondary Currency Priority
Check this box if the Secondary currency takes priority when payment terms and cancellations are calculated.
This field allows you to enter a discount for customers who settle their bills before the required payment date. The value in this field is based on a percentage discount. For example, you may wish to offer a 5% discount for clients who settle their accounts within three weeks of delivery. To activate such a discount, enter 5.00 in the Settlement Discount field.
The default VAT country as determined by the Event set up will be entered here. Enter or Search for a new VAT country is required for this contract. You can only change the VAT country if you have the Accounting rights to do so. See your systems administrator for more details.
Tick this check box if the contract is for a contra deal.